Employers (NYSE:EIG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Employers Holdings Inc (NYSE:EIG)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.42 and traded as high as $44.66. Employers shares last traded at $44.36, with a volume of 319,759 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Zacks Research raised Employers from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Employers in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Employers Stock Performance

The firm has a market capitalization of $997.21 million, a PE ratio of 17.53 and a beta of 0.58. The stock’s 50 day simple moving average is $40.69 and its two-hundred day simple moving average is $42.42.

Employers (NYSE:EIG) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.71). Employers had a net margin of 6.91% and a return on equity of 3.38%. The company had revenue of $239.30 million during the quarter, compared to analysts’ expectations of $216.60 million. During the same quarter last year, the company earned $0.81 earnings per share. Employers’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts expect that Employers Holdings Inc will post 3.63 earnings per share for the current fiscal year.

Employers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. Employers’s dividend payout ratio (DPR) is 50.59%.

Insider Activity at Employers

In other news, EVP Michael Pedraja purchased 5,500 shares of the stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of $37.09 per share, with a total value of $203,995.00. Following the transaction, the executive vice president owned 17,830 shares in the company, valued at $661,314.70. The trade was a 44.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Employers

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. grew its stake in shares of Employers by 133.5% in the 2nd quarter. Osaic Holdings Inc. now owns 635 shares of the financial services provider’s stock valued at $30,000 after buying an additional 363 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Employers during the 2nd quarter valued at approximately $39,000. GAMMA Investing LLC lifted its holdings in Employers by 35.7% in the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 411 shares during the last quarter. Versant Capital Management Inc grew its position in Employers by 230.2% in the third quarter. Versant Capital Management Inc now owns 1,981 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 1,381 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Employers by 179.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,276 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 1,462 shares during the period. 80.49% of the stock is owned by hedge funds and other institutional investors.

Employers Company Profile

Employers Holdings, Inc (NYSE: EIG) is a publicly traded property and casualty insurance holding company headquartered in Des Moines, Iowa. Through its subsidiaries, Employers Mutual Casualty Company and Employers Preferred Insurance Company, the firm specializes in providing workers’ compensation coverage alongside an array of commercial insurance products. Its service offerings include general liability, commercial auto, businessowners policies and umbrella coverages, tailored to meet the risk-management needs of small and mid-sized businesses across multiple industries.

The company markets its insurance solutions primarily through a network of independent agencies and brokers, leveraging local market expertise to underwrite policies that address the unique exposures faced by clients in manufacturing, construction, healthcare, retail and service sectors.